Ferratum expands business with small business loans

(lifePR) (Helsinki/Berlin, 17.07.2015)
Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS; together with its consolidated subsidiaries hereinafter "Ferratum Group" or "Ferratum"), an international provider of mobile consumer loans and a pioneer in the field of "financial technology", has introduced the new division Ferratum Business in Finland. Thus, it has taken only about two months for Ferratum to extend its offerings on small business loans to a second country after successfully forming the business in Sweden.

Jorma Jokela, the founder and CEO of Ferratum Group, is very satisfied with the current business development: "Product diversification is a key component of our growth strategy. We are pleased to have reached an important milestone in the company's development by introducing the new division in our home market of Finland. Looking ahead we can pursue the goal of being able to offer the fastest and easiest loan alternative for small businesses across Europe with Ferratum Business.

Ferratum Business offers established small businesses with a strong track record of at least two years loans to finance working capital with a term of six to twelve months. In Finland these loans can be applied in the amount of EUR 3,000 to EUR 25,000 by means of a simple and short application process, only taking about 10 minutes. Therefore, the new business lending is characterized by fast approval times, with loans disbursed within one day of a completed application and without collateral requirements.

So far in fiscal year 2015, Ferratum has already continued successfully pursuing its growth strategy by entering the Canadian, Norwegian and French market as well as offering its PlusLoan product and Credit Limit product in further existing markets. Besides organic growth in the 21 markets that the company is already active in, Ferratum is focusing on expanding its business in the medium term to include 30 countries and diversify its product portfolio. In this context, Ferratum also plans to establish the new division of business lending in further countries in the course of 2015.

Ferratum Group

The Finnish Ferratum Group, a pioneer for mobile consumer loans in Europe, offers short-term consumer loans. Ferratum's customers can utilize digital media to apply for consumer credit in amounts varying between EUR 25 and EUR 2,000. Moreover, Ferratum offers successful small businesses installment loans with a term of six to twelve months. Managed by its founder Jorma Jokela, Ferratum has expanded rapidly since it was founded in 2005: Ferratum has 1.0 million active and former customers who have been granted one or more loans in the past and 3.0 million total user accounts in its database (as of 31 March 2015). Ferratum is represented in 21 markets and employs 383 people as of 31 December 2014.